Interest for delayed tax payment by specified companies and mutual funds accrues from day after due date until payment. Where the person responsible for payment of income distributed by a specified company or a Mutual Fund fails to pay any tax due on distributed income ... Summary
Interest for delayed tax payment by specified companies and mutual funds accrues from day after due date until payment.
Where the person responsible for payment of income distributed by a specified company or a Mutual Fund fails to pay any tax due on distributed income within the time allowed, that person or entity is liable to pay simple interest on the unpaid tax for the period beginning the day after the last date for payment and ending on the date the tax is actually paid.
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